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Dealing in banknotes on credit at a higher price

Q. Is it permissible to buy and sell banknotes on credit for a price that is higher than their nominal value?

A: In case it is concluded with a serious intention and for a rational purpose, for example, they are different in respect of being new brand/worn out, having special signs on them, or of different value; there is no objection to doing so. However, if it is not concluded with a serious intention but only to circumvent the law prohibiting ribā; it is ḥarām and invalid in Islamic law.

 

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